Short Interest in Funko, Inc. (NASDAQ:FNKO) Decreases By 12.5%

Funko, Inc. (NASDAQ:FNKO) was the target of a significant decrease in short interest during the month of January. As of January 30th, there was short interest totaling 5,064,428 shares, a decrease of 12.5% from the January 15th total of 5,788,785 shares. Approximately 9.5% of the company’s stock are sold short. Based on an average daily trading volume, of 1,199,220 shares, the days-to-cover ratio is currently 4.2 days. Based on an average daily trading volume, of 1,199,220 shares, the days-to-cover ratio is currently 4.2 days. Approximately 9.5% of the company’s stock are sold short.

Hedge Funds Weigh In On Funko

A number of institutional investors have recently bought and sold shares of the business. Russell Investments Group Ltd. boosted its holdings in shares of Funko by 2.5% in the 4th quarter. Russell Investments Group Ltd. now owns 119,879 shares of the company’s stock valued at $408,000 after acquiring an additional 2,930 shares during the last quarter. Rhumbline Advisers lifted its position in Funko by 8.1% during the second quarter. Rhumbline Advisers now owns 49,431 shares of the company’s stock valued at $235,000 after purchasing an additional 3,697 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Funko by 14.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 51,276 shares of the company’s stock valued at $175,000 after purchasing an additional 6,500 shares during the last quarter. Caption Management LLC boosted its holdings in Funko by 8.8% in the second quarter. Caption Management LLC now owns 82,500 shares of the company’s stock valued at $393,000 after purchasing an additional 6,676 shares during the last quarter. Finally, Parcion Private Wealth LLC grew its position in Funko by 64.8% during the 2nd quarter. Parcion Private Wealth LLC now owns 19,525 shares of the company’s stock worth $93,000 after purchasing an additional 7,675 shares during the period. 99.15% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on FNKO. Weiss Ratings restated a “sell (d-)” rating on shares of Funko in a research note on Thursday, January 22nd. Wall Street Zen upgraded Funko from a “sell” rating to a “hold” rating in a research note on Sunday, November 16th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Funko has an average rating of “Hold” and a consensus target price of $4.75.

Funko Stock Performance

Shares of FNKO stock opened at $3.69 on Wednesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.66 and a quick ratio of 0.44. The business has a fifty day moving average of $3.62 and a 200 day moving average of $3.35. The firm has a market capitalization of $204.39 million, a price-to-earnings ratio of -2.91 and a beta of 0.58. Funko has a 1 year low of $2.22 and a 1 year high of $14.15.

About Funko

Funko, Inc is a pop culture consumer products company best known for its stylized vinyl figures, apparel, accessories and other licensed collectible goods. The company’s signature product line, Funko Pop!, features bobblehead-style figurines that showcase characters from a wide array of entertainment franchises, including film, television, gaming, sports and music. In addition to vinyl figurines, Funko’s portfolio encompasses plush toys, action figures, stationery, home goods and novelty items, all leveraging licensing agreements with major global brands.

Founded in 1998 by Mike Becker in Washington state, Funko initially focused on creating nostalgic bobbleheads before expanding its product offerings under current leadership.